Wnc Bridge Foundation
- Assets
- $146.6m
- Revenue
- $12.4m
- Investments
- $17.6m
- Employees
- 53
- Location
- Asheville, NC
- Founding
- 08/2004
- Data as of
- 12/2021
- EIN
- 56-2110357
Organization Overview
Wnc Bridge Foundation is located in Asheville, NC. The organization was established in 2004. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Wnc Bridge Foundation employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wnc Bridge Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Wnc Bridge Foundation generated $12.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $10.0m during the year ending 12/2021. While expenses have increased by 4.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Wnc Bridge Foundation has awarded 294 individual grants totaling $27,742,175. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE HEALTH AND WELL BEING OF PEOPLE IN WESTERN NORTH CAROLINA.
Describe the Organization's Program Activity:
WNC BRIDGE FOUNDATION INVESTED $2,252,541 IN GRANTS AND COMMUNITY INITIATIVES IN THE EIGHTEEN COUNTIES OF WESTERN NORTH CAROLINA.-$400,000 IMMEDIATE NEEDS FOR LOCAL PARTNERS (NOW GRANTS)-$269,225 IN SAFE HOUSING AND FOOD INSECURITY (AIM GRANTS)-$660,402 IN ADDITIONAL WNC BRIDGE COMMUNITY INITIATIVES (RATHBUN HOUSE $309,451, YOU'RE SPECIAL FUND, CHILDREN'S SERVICES FUND, HEALTH SCHOLARSHIPS $41,100, AND WNC GREATEST NEEDS)-$930,433 IN REGIONAL INVESTMENTS (MOUNTAINCARE AND $55,000 FLOOD RELIEF)
IMPACT GRANTS OF $3,900,000 WERE AWARDED TO LOCAL NON-PROFITS IN WNC.
THE ORGANIZATION OPERATES A THRIFT STORE AND OFFERS ESTATE SALES. INCOME FROM THE THRIFT STORE AND COMMISSIONS FROM ESTATE SALES ARE INCLUDED IN REVENUE FROM THE SALE OF INVENTORY. THE COST OF GOODS SOLD OF $348,369 FOR THE THRIFT STORE ARE NETTED WITH REVENUE OF $1,314,056. THE DONATIONS TO THE THRIFT STORE ARE NOT INCLUDED IN NON-CASH CONTRIBUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott W Buchanan CEO & President | OfficerTrustee | 40 | $210,660 |
Meg White Senior Program Officer | 40 | $119,556 | |
H Denniston Crews Secretary | OfficerTrustee | 2 | $0 |
William N Lewin Past Chair | OfficerTrustee | 2 | $0 |
Gay P Vinson Chair | OfficerTrustee | 2 | $0 |
Jeff Gould Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bessemer Trust Investment Management | 12/30/21 | $380,898 |
Jcs Investments Llc Rental Of Property | 12/30/21 | $161,192 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $224,627 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,352,669 |
| Noncash contributions included in lines 1a–1f | $41,872 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,577,296 |
| Total Program Service Revenue | $0 |
| Investment income | $1,588,967 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $6,785 |
| Net Gain/Loss on Asset Sales | $4,228,249 |
| Net Income from Fundraising Events | -$38,721 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $965,687 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,380,465 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,999,957 |
| Grants and other assistance to domestic individuals. | $160,103 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $236,064 |
| Compensation of current officers, directors, key employees. | $118,032 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,287,252 |
| Pension plan accruals and contributions | $53,834 |
| Other employee benefits | $186,554 |
| Payroll taxes | $111,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,375 |
| Fees for services: Accounting | $1,111 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $321,642 |
| Fees for services: Other | $150,229 |
| Advertising and promotion | $71,381 |
| Office expenses | $131,552 |
| Information technology | $169,965 |
| Royalties | $0 |
| Occupancy | $389,592 |
| Travel | $16,312 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $132,614 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $442,951 |
| Insurance | $95,486 |
| All other expenses | $15,726 |
| Total functional expenses | $9,995,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $786,778 |
| Savings and temporary cash investments | $1,836,777 |
| Pledges and grants receivable | $367 |
| Accounts receivable, net | $66,156 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $90,160 |
| Net Land, buildings, and equipment | $11,388,269 |
| Investments—publicly traded securities | $114,130,164 |
| Investments—other securities | $17,586,414 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $674,755 |
| Total assets | $146,559,840 |
| Accounts payable and accrued expenses | $848,265 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,722,539 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,391,662 |
| Total liabilities | $12,962,466 |
| Net assets without donor restrictions | $130,984,680 |
| Net assets with donor restrictions | $2,612,694 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $146,559,840 |
Grants Awarded
Over the last fiscal year, Wnc Bridge Foundation has awarded $5,820,283 in support to 116 organizations.
| Grant Recipient | Amount |
|---|---|
Asheville, NC PURPOSE: SPECIAL APPROPRIATIONS | $1,279,752 |
Asheville, NC PURPOSE: NOW GRANT | $185,000 |
Asheville, NC PURPOSE: IMPACT GRANT/SPECIAL APPROPRIATIONS | $111,500 |
Nebo, NC PURPOSE: IMPACT GRANT | $100,000 |
Chapel Hill, NC PURPOSE: IMPACT GRANT | $90,000 |
Asheville, NC PURPOSE: IMPACT & NOW GRANTS | $81,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Wnc Bridge Foundation has recieved totaling $6,927.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: PROMOTING QUALITY HEALTH | $6,927 |
Endowment Analysis
| Beg. Balance | $692,992 |
| Earnings | $86,246 |
| Admin Expense | $10,521 |
| Grants | $37,290 |
| Ending Balance | $731,427 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Charitable Ashburn, VA | $209,799,923 | $22,185,205 |
Wnc Bridge Foundation Asheville, NC | $146,559,840 | $12,380,465 |
Hope For The Warriors Springfield, VA | $4,615,443 | $8,207,781 |
The Savannah Community Foundation Inc Savannah, GA | $54,173,792 | $9,998,384 |
Spookstock Foundation Leesburg, VA | $1,341,695 | $5,091,159 |
The Methuselah Foundation Springfield, VA | $18,792,317 | $14,799,805 |
The Giving Kitchen Initiative Inc Atlanta, GA | $5,202,127 | $3,829,430 |
Kermit G Phillips Ii Charitable Tr Greensboro, NC | $71,515,607 | $5,235,464 |
Troon Foundation Elon, NC | $48,656,909 | $2,507,639 |
Frances P Bunnelle Foundation Pawleys Island, SC | $50,346,506 | $4,044,110 |
Glass Family Foundation Inc Asheville, NC | $24,447,807 | $3,179,935 |
Speedway Childrens Charities Concord, NC | $415,792 | $1,752,353 |